Common use of Soundness Clause in Contracts

Soundness. To the best of the Company’s and ORA’s knowledge, the mechanical, electrical, plumbing and sewer systems serving the Improvements are fully operational, there are no structural, electrical, mechani­cal, plumb­ing, roof, paving or other defects in the Property, the roofs of the Improvements are free of leaks and in sound structural condition, and the Personalty is in good working order.

Appears in 1 contract

Sources: Stock Purchase Agreement (Monaco Coach Corp /De/)

Soundness. To the best of the Company’s and ORA’s knowledge, the mechanical, electrical, plumbing and sewer systems serving the Improvements are fully operational, there are no structural, electrical, mechani­calmechanical, plumb­ingplumbing, roof, paving or other defects in the Property, the roofs of the Improvements are free of leaks and in sound structural condition, and the Personalty is in good working order.

Appears in 1 contract

Sources: Stock Purchase Agreement (Monaco Coach Corp /De/)